StockNews.com Initiates Coverage on Profire Energy (NASDAQ:PFIE)

StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE - Free Report) in a research note issued to investors on Saturday morning. The firm issued a buy rating on the oil and gas company's stock.

Separately, Lake Street Capital reiterated a "hold" rating and issued a $2.55 price objective on shares of Profire Energy in a research report on Wednesday, October 30th.

Profire Energy Stock Performance

Shares of Profire Energy stock remained flat at $2.52 during trading on Friday. 305,152 shares of the stock traded hands, compared to its average volume of 349,452. Profire Energy has a 52-week low of $1.33 and a 52-week high of $2.52. The stock has a market capitalization of $116.19 million, a price-to-earnings ratio of 13.97 and a beta of 0.43. The company's 50 day moving average price is $1.87 and its 200-day moving average price is $1.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in Profire Energy by 1.0% in the third quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company's stock valued at $3,414,000 after acquiring an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Profire Energy by 5.6% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company's stock valued at $2,470,000 after acquiring an additional 91,941 shares during the last quarter. Vanguard Group Inc. increased its stake in Profire Energy by 17.2% in the first quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company's stock valued at $2,968,000 after acquiring an additional 235,664 shares during the last quarter. Perritt Capital Management Inc increased its stake in Profire Energy by 4.6% in the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company's stock valued at $477,000 after acquiring an additional 14,720 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company's stock valued at $325,000 after acquiring an additional 24,376 shares during the last quarter. Institutional investors own 38.51% of the company's stock.

Profire Energy Company Profile

Profire Energy, Inc, a technology company, engages in the engineering and design of burner, and combustion management systems and solutions for natural and forced draft applications in the United States and Canada. It primarily focuses on the upstream, midstream, and downstream transmission segments of the oil and gas industry.